Wesfarmers chair Michael Chaney will leave the role after the group’s annual meeting on Thursday and used his final message to investors to emphasise the company’s conservative, opportunity-driven approach. He warned that artificial intelligence should be treated as a productivity tool rather than a quick route to cost cuts, and flagged rising cyber risks and model costs as areas boards must manage carefully.
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Reilly Financial has been placed into liquidation following findings by the Australian Securities and Investments Commission. The move will see a liquidator take control of the firm, with clients, creditors and staff to receive formal notices outlining next steps.
BlueScope has upgraded its earnings guidance after North American mini-mill profits surged by almost 75%, a boost traced to US steel tariffs that have pushed domestic prices to multi-year highs. The tariff-driven price lift has helped producers and shareholders, but studies show downstream manufacturers and consumers have paid a much higher cost.
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